Hope you’ve all made some great trades this week so far. Three more trading days left in the week and I look forward to them being lucrative ones. 🙂

So, my choice for Chart of the Day is NZD/USD. The pair has been trending upwards practically since March and really performed well last night and into the early morning hours. It’s on a pullback at the moment but I’m sure it’s temporary as “nothing goes up forever”. Let’s look at the chart, shall we? :

The pair rose over 160 pips during the course of 12 hours. It was a steady climb which shows the overall strength of the pair. Keep an eye out for important NZD economic data out at 3:45 pm PST. It concerns GDP for New Zealand.

In other news, I have begun sending out daily emails(5 days a week) containing my potential trade picks for Forex. If you are interested in receiving these emails, please contact me at forexisthefuture@gmail.com , and I will add you to the list. I’m sure the picks could be helpful to those of you who may want a list of currency pairs to keep an eye on to trade. 😀

It’s been far too long since the last time I updated this blog. It’s high time I get back in the swing of things(i.e. posting here more regularly). Hope you’re all having a good trading week so far, 3 more days to go! 🙂

Today, I wanted to share with you all my pick for Chart of the Day which is EUR/GBP. Though there were some significant moves from other currency pairs, when looking at the overall picture(trend) and doing my analysis, I decided that EUR/GBP was my so-called ‘favorite’ of the bunch. All of the GBP crosses moved well, which was due to the economic data that was released in the wee hours of the morning. UK inflation rate dropped to 1.6% from 1.8% in July. It is the goal of the Bank of England(BoE) to have inflation at 2.0% so, anything below that equals bad news for the GBP. Like I’ve written seemingly countless times before, keeping track of economic news is so important as the sentiment of the market can change in a blink of a eye at times. The market was in a rolling trend until the news came out so, yeah, always be aware of economic data releases.

Ok, so let us take a look at the chart:

The pair rose a little over 100 pips over the course of a seven-hour period. It may not seem to be as extravagant a move as a few other pairs like GBP/USD or GBP/JPY but the pip value of EUR/GBP is roughly $1.65 per pip, which I think is a pretty awesome trade for a 100-pip move.

So, any questions..comments for me? Feel free to leave a comment here or send me an email anytime and I’ll get back to you as soon as humanly possible. 🙂 Have a fabulous day!

Happy Friday all! And what an interesting week it has been, hasn’t it?

I must admit that the erratic movements in the markets have had me a little on edge. Which way to go? Am I making the right decisions? It’s been a mixed bag of results to tell you the truth. In a prolonged rolling market, leaving trades unmonitored is not the wisest decision. You have to be literally implanted in your chair, eyes glued to the computer screen to avoid getting yourself into a precarious situation.

Anyway, I will keep this post as short and pain-free as possible! 😉

Let’s take a look at the chart for GBP/USD:

Over the course of the past day, around 7am PST yesterday til now, the pair has moved nearly 300 pips to the upside. It has made the most significant moves of practically all the other pairs but if you look at the entire chart, it is basically rendered trendless/rolling. We have been trendless since the beginning of June and will have to wait for a significant breakout or breakdown to be back on track again. In my opinion, a break to the downside may be the most plausible. The pair has already hit its highest point three times during this month, the highest it has been since Oct. 30th, 2008….8 months ago! So, like I said, a breakdown most likely will be coming and we should keep an eye out for that.

We are 3 trading days away from the end of the month and no real critical data will be out until mid-next week.

Hope everyone’s having a splendid week so far. It seems to be a bit dragging for me, especially on the trading end. Not so many AMAZING trades going on out there. Trust me when I tell you that there are trades out there but hardly any that you would expect to hold overnight unattended. I lost a bit of money a couple weeks ago due that error, which made me upset and angry with myself. After a bit of mourning(those of you who have experienced the sheer agony of a big loss know what I’m talking about)I had to decide that I could not let this market eat me alive. No way, no how. So, somehow I had to bring myself back from the brink of near madness and give it another go. It’s all a learning experience, as it should be. We all make mistakes sometimes, and have got to roll with the punches instead of completely falling apart. Am I right? 🙂

So, as previously mentioned, the market has been in rolling stages for the past few days. Here is a typical chart for you to observe:

Most times when we are in a rolling trend, most trades do not last more than roughly 3-6 hours maximum. It is up to us to be aware of what is going on and always be prepared for a sudden change in direction.

Also, let’s not forget that we have to pay special attention to any economic data that may come out whose effect could swing the market in the opposite direction. Tomorrow economic calendar includes:

CHF: Libor Rate 12:30am PST

GBP: Retail Sales 1:30am PST

CAD: Core CPI 4:00am PST

USD: Unemployment Claims 5:30am PST

That’s about it for today, guys. If you want to know what I may be trading tonight, check my twitter page Have a wonderful day, everyone! 😀

It’s been a while, hasn’t it? My sincerest apologies if you’ve been checking in frequently or even just on occasion only to find no new updates. I have now returned from my impromptu month-long blogging hiatus…and am ready and rearing to go! 😀 Hope you’ve all had successful trades in the past few weeks. I have been updating my twitter page(bottom right on this page) frequently so to those of you who have been checking in on that, I am grateful for that!

The last month for me has been a learning experience. I’ve had my ups and downs, moments of triumphs and stumbles, and I have taken them in stride. Anyone would tell you that life will not always be a bed of roses but when things do go sour, the best route is to assess the situation: identify the good and the bad and move on. At times I have to remind myself that failure comes with the territory, that I shouldn’t be afraid to fail because it means that I am making progress. Everytime we fail, it’s an opportunity to improve, make new plans until we finally succeed. Even when we succeed, there is always room for betterment, which is another thing to keep in mind.

Five things I learned while on my hiatus are:

1. Stop losses are for the most part, hugely ineffective. I made my most devastating losses using stop losses. I found myself paying more attention to how far away my trades were from being ‘stopped out’, hoping and praying for things to turn around, instead of cutting my losses manually due to poor choices. When I ended my use of SLs, minor fluctuations didn’t bother me as much, somehow I became more confident in my positions and the number of losing trades dropped dramatically. I don’t know if it’s all merely trading psychology but having an increased number of winning trades makes me extremely happy. 😀

2. Going with your gut is an important part of trading successfully. After analyzing the data and putting everything together to come a decision, make sure that the trade not only looks right but feels right. Whenever I have doubts, I don’t get into that trade, and in the end I am usually right. Of course, there is a difference between doubt and fear of trading, which is not getting into a trade for fear of losing. Controlling our emotions is a huge part of trading but over time, this issue can be overcome.

3. Using too many secondary indicators can be detrimental to trading. Not only does it crowd the chart, it can cause you to lose valuable time in making a proper decision. The basic idea of trading is knowing how to read the chart correctly. We don’t need to look at any unnecessary data to confuse us when we need to make quick, yet thorough, decisions.

4. No second guessing. This goes hand-in-hand with #2. Whenever I second guess, it’s like I’m throwing all my initial analysis and confirmations out the window. Being confident in your trades is so vital and I’m still learning not to doubt myself at times.

5. The trend is your friend. This is self-explanatory. Being impatient and going against the trend never ends up well. Timing is everything, and trading a pullback can be profitable, but doing your analysis and trading in accordance to the trend is will yield even better results.

Hopefully, this post will prove helpful to at least some of the readers of there. Everyone has their own systems and philosophies and I think it’s great to read what others are thinking and going through. I’m here for anyone who have any questions they would like to have answered about Forex. There’s so much to learn, so much I have to give myself time to find out and implement into my ever-evolving trading system. Forex hasn’t been open to many people, it is not nearly as talked about as the stock market, and is still pretty much the world’s best kept secret. My new goal now is teaching my dad how to trade and I have already begun to do so. He’s very keen on learning and that, I believe, is a great sign of what the future holds for not only myself but my family. It’s an amazing privilege to be able to teach and pass down knowledge to others, I also plan to teach my son when he is older so he can have a foundation for his future even if he doesn’t make trading his primary interest for a career prospect.

So, I’ll end this now as I have rambled on long enough. Please feel free to email me anytime at forexisthefuture@gmail.com , I love hearing from my readers. Also, don’t forget to follow me on twitter, you can message me there if you’d like!

Hi friends! So sorry I haven’t updated the blog in what seems like AGES but I’m back now. Promise. 🙂

As you all may have noticed, we’ve been experiencing a buying sentiment in the market. It’s been a good few days, today’s movement has been kinda or hit or miss but overall, a great week so far.

Let’s look at GBP/JPY:

This pair rose almost 800 pips in the last 2 days. If any of you happened to hold this trade for the last 48 hours, then you must be bouncing off the ceiling with happiness. EUR/JPY also moved big, moving approximately 700 pips.

Expect some pullback either tomorrow or early next week. What goes up must come down..eventually. I will keep you all updated, don’t forget to check my Twitter! Also, if you have a Twitter account, follow my mentor’s tweets. Remember me mentioning her in my first post: An Introduction? Her Twitter name is FX Princess . Check out her list of potential trades, they are spot on. Thanks so much!